Air miles' value drops
 

http://www.washingtontimes.com/news/...alues-descend/

Next time an airline offers you 5,000 miles as a "good-will gesture" for something that went wrong on a flight, you might want to negotiate a bigger number.
Miles devaluation is here, and along will rising air fares, service cutbacks and various fees, it is likely to remain a prominent feature of the travel experience for a while. Some U.S. carriers have already increased the number of miles needed for an "award ticket," and others, no doubt, will follow suit.